How to Get the Best Price When Buying a Used CarJuly 7, 2018
Buying a pre-owned vehicle can be somewhat of a tricky process, especially if you are a first time buyer. Some say that dealerships can smell your fear and desperation and before you’re even greeted, you are already considered an “easy sell”. This isn’t to say that every dealership will attempt to take you to the cleaners; we do highly recommend that you come prepared for what’s in store. But whether it is your first used car purchase or you’re a seasoned buyer, buying a used vehicle will be a breeze with these tips loaded in your arsenal.
Show ‘Me Your “Poker Face”- No, don’t go all Lady Gaga on them, just keep your cool. It’s just like making any big purchase with that has room for negotiation, when you express how interested you are in the car, they will automatically attempt to play on your emotions. This will entice them to manipulate you into paying full price. Your best bet, hide your emotions and keep your poker face strong! Make Them an Offer They Can’t Refuse- Like we mentioned earlier, negotiation is a frequently used tactic to score yourself the best price. Sticker price should never be paid as there is always room for negotiating. The key is to aim low and work your way up. They will most always reject your first offer, but you didn’t expect for them to accept anyway. Try to mentally set your maximum price and remember to not go over it. So if the vehicle is $10,999 and your maximum price is $8,500, start off with $7,000 and allow the price to fluctuate towards your number.
Watch Out for Add-Ons, You’re Going to Get Add-Ons- You’ve nailed your ideal price, you’re feeling confident, the world is YOUR oyster. But all this will come to a screeching halt the second you sit down to sign those papers. Oftentimes you will be thrust into a world of “extended warranties”, “Weather-proof undercoating”, and other dangerously expensive additional features that might not be necessary. Why? Because this is where the dealership really makes their money. For example: You can get an extended warranty for much cheaper with a third-party provider, like Endurance. Also, the dealer will roll these “add-ons” into your car payments (which you pay interest on) causing you to get much more than you bargained for.
While every dealership is different, it has been an industry-wide fact that most places are not the exception, but rather the rule. But just because you run into one of these strong-armed salespersons, doesn’t mean you’ve got to play victim. Remember these tips, stay focused, and keep your cool, and before you know it, you’ll end up getting the best price for your used car without any hassle. See you on the road!